You're getting great advice here. Lars said exactly what I was going to say.
I have a full woodworking shop. Never having seen this thread, I just walked back in from working on some balsa in my shop. While I was out there I was thinking, which of these tools could I live without and which could I never give up.
I've said it for years, the single most important tool in my shop is absolutely the drill press. I use it far more than I ever thought I would when I bought it. If I'd had any idea, I would have spent about 10 times as much on one as I did. As it is, the cheap, import, floor model has served me very well through many years. If you buy a bench drill press, get a good solid one. Many bench top tools are junk and have too much flex. If you have the room for it, even a cheap floor model will be more solid and much more capable than most bench top units. And you'll be surprised by the depth you sometimes find yourself needing, even on model work.
For me, the next tool is the bandsaw. It won't do everything but pretty close to it. The limitation is internal cuts and for that you need a scroll saw. The scroll saw can kind of do the outside cuts that the bandsaw will do but not vice-versa. But the only time I use my scroll saw is when I need to make an inside cut, the bandsaw I use almost every trip into the shop.
#3 is the sander. A disk sander will take those less than perfect parts and make machine cut perfection out of them. Much more important than a grinder. If you have a Dremel with a variety of bits and stones for it, there is very little need for a grinder.
What did I use on my latest trip to the shop? Since I was building a precision construction jig out of 1/2" balsa, I used the bandsaw and the disk sander.
Dave